External evaluation and Initiative
GRESB is an annual benchmarking assessment to measure ESG integration of real estate companies and funds, as well as the name of the organization which runs the assessment. It was established in 2009 primarily by a group of major European pension funds, which led the launch of Principles for Responsible Investment.
Awarded 5 Stars and Green Star in GRESB Real Estate Evaluation
GLP J-REIT received a "5 Star" GRESB Rating, which is based on GRESB Overall Score and its quintile position relative to global participants and was awarded the highest rating of “5 Star” and ranked first among the listed logistics real estate sector in global out of 34 peers, first among the listed and unlisted logistics real estate sector in Asia out of 31 peers, and first out of nine Logistic J-REITs.
It also received a “Green Star” designation by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG (Environmental, Social and Governance) promotion, and in “Performance Component” that assesses environmental performance and tenant engagement of properties owned.
Selected as Sector Leader
GLPJ-REIT was selected as both Global Sector Leader in the listed logistics real estate sector and Regional Sector Leader in the listed and unlisted logistics real estate sector among Sector Leaders, titles given to the participant who achieved the highest GRESB Overall Score (and those who are within 1.0 point from the top performer).
GLP J-REIT will continue to implement sustainability practices, utilizing GLP Group’s expertise.
Acquisition of "A level" in the GRESB disclosure evaluation
GLP J-REIT received the highest “A Level” for the GRESB Public Disclosure, which assess the width of ESG disclosure in the GRESB disclosure evaluation (5-step evaluation).
The TCFD is an international initiative established in 2015 by the Financial Stability Board (FSB) at the request of the G20 Finance Ministers and the Central Bank Governors Meeting to discuss climate-related issues to be addressed by the financial sector. TCFD discusses how financial institutions and companies should disclose the impacts of climate-related risks and opportunities on the organization’s businesses to investors and other stakeholders, and announces recommendations.
Expression of Support for TCFD Recommendations
In August 2021, GLP Japan Advisors Inc., the asset manager, has signed off as a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) , a body established by the Financial Stability Board, and participated in the TCFD Consortium, a group of domestic companies that support TCFD recommendations.
The PRI is recognized as the leading international network of institutional investors working together to put into practice six principles for responsible investing as described in ＜the Six Principles of PRI. The PRI＞ below is supported by the United Nations Environment Programme Finance Initiative (UNEP FI) and the United Nations Global Compact (UN Global Compact).
GLP Group, the sponsor of GLP J-REIT, has endorsed the basic concept of the Principles for Responsible Investment (PRI), which advocates incorporating environmental, social and governance (ESG) issues into investment decisions and agreed with the basic approach of the PRI and became a signatory in November 2021.
The PRI encourages the incorporation of environmental, social and governance (“ESG”) issues into investment and ownership decisions, aiming to help the beneficiaries enhance long-term investment performance and the signatories better fulfill their fiduciary duty.
＜The six Principles for Responsible Investment＞
- We will incorporate ESG issues into investment analysis and decision-making processes.
- We will be active owners and incorporate ESG issues into our ownership policies and practices.
- We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- We will promote acceptance and implementation of the Principles within the investment industry.
- We will work together to enhance our effectiveness in implementing the Principles.
- We will each report on our activities and progress towards implementing the Principles.